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EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

Inside the 2016 Ford Focus RS at the New York Auto Show

The Ford Focus RS made its US debut Wednesday at the New York Auto Show, offering Americans their first chance to experience the hot hatch live and in the flesh. Naturally, we wanted to know more, especially about what the Focus RS will mean to US buyers. We caught up with John Wicks with Ford Performance program management and Omar Odeh, a Focus product marketing manager, on the show floor of the Javits Center in New York, where they explained the ins- and outs of all-things Focus RS. The car was first revealed in Germany in February, and then traveled to the the Geneva Motor Show in March. It will employ a modified version of the 2.3-liter EcoBoost four-cylinder used in the 2015 Mustang tuned to make more than 315 horsepower. It also received upgraded brakes, suspension components and aerodynamic pieces compared with more sedate Focus models. Underscoring its sporting credentials, Ken Block helped Ford engineers during the hatch's development, and the Focus RS showcases a new all-wheel-drive system with torque-vectoring. The New York show debuted two colors that will be worn on the production Focus RS: a light, bright shade called Nitrous Blue and a more sinister hue named Stealth Gray. The Focus RS enters production late this year at a factory in Germany. New York Auto Show Ford Hatchback Performance Videos 2015 ny auto show

2023 Grand National Roadster Show Mega Photo Gallery | Hot rod heaven

POMONA, Calif. — From an outsider's perspective, it would be easy to assume that the Grand National Roadster Show has always been a Southern California institution. After all, it celebrates the diverse postwar car culture of the region — hot rods, lead sleds, lowriders, and more. However, the show had its roots in NorCal in 1950 when Al Slonaker and his hot rod club showed their custom cars at the Oakland Expo. The GNRS moved to Pomona, California, in 2004. By then it had grown exponentially and seen about a dozen more car customization trends come and go. However, the show and its centerpiece award, the America's Most Beautiful Roadster prize, celebrate what is perhaps the first of those trends: the American hot rod in its purest form. Today, in its 73rd year, the GNRS is the oldest indoor car show in America. Annually it welcomes 500-800 cars, gathered into special themes like Tri-Five Chevys or Volkswagen Bugs. At this year's show, which was last weekend, a special hall was dedicated to pickup trucks built between 1948-98, including mini-trucks, groovy camper bed conversions, and resto-mods.  However, of all the vehicles presented, only nine are eligible for the America's Most Beautiful Roadster award. Winners get their names engraved on a 9-foot-tall perpetual trophy that was, according to The Ultimate Hot Rod Dictionary, the largest in the world when it debuted in 1950. Slonaker chose the word "roadster" initially because "hot rod" bore slightly negative outlaw connotations in 1950. Only American cars built before 1937 of certain body styles — roadsters, roadster pickups, phaetons, touring cars — are eligible, and they cannot have roll-down side windows.  Cars in the running for the cup cannot have been shown anywhere else before their debut at the GNRS.  Contestants for this accolade essentially build their cars to the a platonic ideal of a hot rod. This year the honors went to Jack Chisenhall of San Antonio, Texas, for his "Champ Deuce," a 1932 Ford Roadster. It's exactly what you picture when you think of a hot rod, but distilled to its absolute essence.  Other standouts included "Green Eyes," a two-tone green 1959 Chevy El Camino  with a heavily metal-flaked bed, "Blue Monday," a 1964 Buick Riviera lowrider, and a personal favorite, "Purple Reign," a purple and black 1951 Mercury. Cars may have started out as tools, but there aren't shows like this filled with custom refrigerators.